EXHIBIT 99.1

 

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS OF GRUPO AEROPORTUARIO DEL SURESTE, S.A.B. DE C.V.

 

 

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

 

Unaudited Condensed Consolidated Interim Financial Statements

As of June 30, 2026 and December 31, 2025 and

For the six-month periods ended June 30, 2026 and 2025

 

 

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

 

Contents

 

June 30, 2026 and December 31, 2025

 

Financial statements:  
Unaudited Condensed consolidated statements of financial position 1
Unaudited Condensed consolidated statements of comprehensive income 2
Unaudited Condensed consolidated statement of changes in stockholders' equity 3
Unaudited Condensed consolidated statements of cash flows 4
Notes to the unaudited condensed consolidated interim financial statements 5 to 21

 

 

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Unaudited Condensed Consolidated Statements of Financial Position

As of June 30, 2026 and December 31, 2025

 

Thousands of Mexican pesos

 

       2026   2025 
Assets              
CURRENT ASSETS:              
Cash and cash equivalents  6   $11,641,384   $11,116,335 
Restricted cash and cash equivalents  6    1,936,820    2,041,027 
Accounts receivable – Net  7    2,642,261    2,562,309 
Receivable from third parties  7    100,696    100,696 
Recoverable income taxes  7    1,097,880    1,112,994 
Creditable value added tax  7    166,536    160,132 
Inventory  7    70,414    93,237 
Other assets  7    829,536    691,057 
Total current assets       18,485,527    17,877,787 
NON-CURRENT ASSETS:              
Land, furniture and equipment – Net  8    310,124    303,068 
Investment properties – Net  9    12,187,235    12,758,949 
Intangible assets, airport concessions and goodwill – Net  10    58,716,005    58,022,949 
Investment accounted for using the equity method       281,659    283,108 
Total assets      $89,980,550   $89,245,861 
Liabilities and Stockholders' Equity              
CURRENT LIABILITIES:              
Bank loans  13   $15,867,018   $220,356 
Short term debt       404,718    405,494 
Lease liabilities  11    1,269,421    1,394,981 
Income tax payable  15    250,389    423,644 
Accounts payable and accrued expenses  12    3,543,394    3,458,705 
Total current liabilities       21,334,940    5,903,180 
NON-CURRENT LIABILITIES:              
Bank loans  13    2,423,441    18,396,343 
Long-term debt  13    8,084,526    8,464,370 
Lease liabilities  11    6,404,691    6,720,103 
Deferred income tax  15    3,192,425    3,278,190 
Employee benefits obligations       84,179    77,309 
Total liabilities       41,524,202    42,839,495 
STOCKHOLDERS' EQUITY:              
Capital stock  14    7,767,276    7,767,276 
Capital reserves       2,542,227    2,542,227 
Other comprehensive loss       (951,421)   (788,686)
Retained earnings       32,096,681    29,987,071 
Controlling interest       41,454,763    39,507,888 
Non-controlling interest       7,001,585    6,898,478 
Total stockholders' equity       48,456,348    46,406,366 
Total liabilities and stockholders' equity      $89,980,550   $89,245,861 

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

 

Page 1

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Unaudited Condensed Consolidated Statements of Comprehensive Income - by Expense Function

For the six and three-month periods ended June 30, 2026 and 2025

 

Thousands of Mexican pesos

 

   Six months period ended   Three months period ended 
   June 30,   June 30, 
   2026   2025   2Q 2026   2Q 2025 
Revenue (Notes 3 and 4):                    
Aeronautical services  $9,667,632   $10,019,456   $4,543,262   $4,816,236 
Non-aeronautical services   6,031,129    5,585,424    2,864,520    2,615,686 
Construction services   2,679,166    1,898,027    2,171,182    1,283,510 
Total revenue   18,377,927    17,502,907    9,578,964    8,715,432 
Operating costs and expenses (Note 5):                    
Cost of aeronautical and non-aeronautical services   (6,905,411)   (5,911,991)   (3,390,700)   (2,929,522)
Cost of construction services   (2,679,166)   (1,898,027)   (2,171,182)   (1,283,510)
Administrative expenses   (215,396)   (179,055)   (127,004)   (88,392)
Total operating costs and expenses   (9,799,973)   (7,989,073)   (5,688,886)   (4,301,424)
Operating profit   8,577,954    9,513,834    3,890,078    4,414,008 
Interest income   587,956    847,682    429,015    383,749 
Interest expense   (1,532,309)   (574,114)   (837,302)   (329,116)
Exchange income on foreign currency   643,480    92,673    140,494    45,415 
Exchange loss on foreign currency   (863,865)   (1,464,315)   (392,418)   (1,202,929)
Share of loss of investments accounted for using the equity method   (1,233)   (1,401)   (369)   (391)
Fair value gain (loss)   87,878    -    49,510    - 
Net income before income taxes   7,499,861    8,414,359    3,279,008    3,310,736 
Income tax   (2,188,891)   (2,505,958)   (894,446)   (1,040,554)
Net income for the period  $5,310,970   $5,908,401   $2,384,562   $2,270,182 
Net income attributable to:                    
Controlling interest   5,109,610    5,660,598    2,295,051    2,144,814 
Non-controlling interest   201,360    247,803    89,511    125,368 
Other comprehensive income:                    
Items that will be reclassified to income:                    
Effect of foreign currency translation – that may be reclassified subsequently to income   (260,988)   (1,292,493)   (234,891)   (890,514)
Other comprehensive loss for the period   (260,988)   (1,292,493)   (234,891)   (890,514)
Total comprehensive income for the period  $(260,988)   (1,292,493)  $(234,891)   (890,514)
Total comprehensive income attributable to:   5,049,982    4,615,908    2,149,671    1,379,668 
Controlling interest   4,946,875    4,811,383    2,055,715    1,584,650 
Non-controlling interest   103,107    (195,475)   93,956    (204,982)
Basic and diluted earnings per share expressed in Mexican pesos (Note 14)   17.032    18.869    7.655    7.149 

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

 

Page 2

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and s0075bsidiaries

Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity

Six-month periods ended June 30, 2026 and 2025

 

Thousands of Mexican pesos

 

Movement  Capital
stock
   Legal
reserve
   Reserve for
repurchase
of shares
   Other
comprehensive
income (loss)
   Retained
earnings
   Controlling
interest
   Non-
controlling
interest
   Total
stockholders'
equity
 
Balances at January 1, 2025  7,767,276   2,542,227   23,191,198   391,485   20,320,736   54,212,922   7,399,703   61,612,625 
Net income for the period                  5,660,598   5,660,598   247,803   5,908,401 
Other comprehensive loss and other movements              (849,215)      (849,215)  (443,278)  (1,292,493)
Total comprehensive income (loss)              (849,215)  5,660,598   4,811,383   (195,475)  4,615,908 
Transfer of reserve for repurchase of shares          (23,191,198)      23,191,198             
Dividends declared                  (24,000,000)  (24,000,000)      (24,000,000)
Balances at June 30, 2025  7,767,276   2,542,227       (457,730)  25,172,532   35,024,305   7,204,228   42,228,533 
                                 
Balances at January 1, 2026  7,767,276   2,542,227       (788,686)  29,987,071   39,507,888   6,898,478   46,406,366 
Net income for the period                  5,109,610   5,109,610   201,360   5,310,970 
Other comprehensive loss and other movements              (162,735)      (162,735)  (98,253)  (260,988)
Total comprehensive income (loss)              (162,735)  5,109,610   4,946,875   103,107   5,049,982 
Dividends declared and paid                  (3,000,000)  (3,000,000)      (3,000,000)
Balances at June 30, 2026  7,767,276   2,542,227       (951,421)  32,096,681   41,454,763   7,001,585   48,456,348 

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

 

Page 3

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Unaudited Condensed Consolidated Statements of Cash Flows

Six-month periods ended June 30, 2026 and 2025

 

Thousands of Mexican pesos

 

       2026   2025 
Operating activities               
Income before income taxes       $7,499,861   $8,414,359 
Adjustments for:               
Depreciation and amortization        1,601,001    1,235,699 
Share of loss of investments accounted for using the equity method        1,233    1,400 
Interest income        (587,956)   (847,682)
Interest expense        1,532,309    574,115 
Exchange loss        784,192    336,708 
Exchange gain        (633,203)   (286,492)
Subtotal        10,197,437    9,428,107 
Changes in operating assets and liabilities:               
Accounts receivable        79,952    883,799 
Recoverable taxes and other current assets        106,946    1,045,818 
Income taxes paid        (2,824,188)   (4,262,760)
Trade accounts payable and accrued expenses        86,277    (1,286,544)
Net cash flows provided by operating activities       $7,646,424   $5,808,420 
Investing activities               
Redemption of investments in financial instruments        -    1,537,688 
Restricted cash        76,600    (39,197)
Investments in machinery, furniture, equipment and concession improvements   8    (2,494,627)   (2,035,750)
Interest received        587,956    846,886 
Net cash flows (used in) provided by investing activities       $(1,830,071)  $309,627 
Financing activities               
Proceeds from bank loans   13    -    9,500,000 
Restricted cash        27,607    126,298 
Repayment of bank loans   13    (323,875)   - 
Repayment of long-term debt   13    (129,328)   (133,573)
Lease payments - Principal portion   11    (456,160)   (5,709)
Interest paid        (1,334,687)   (509,048)
Dividends paid   14    (3,000,000)   (15,000,000)
Net cash flows used in financing activities       $(5,216,443)  $(6,022,032)
Net increase in cash and cash equivalents        599,910    96,015 
Cash and cash equivalents at the beginning of the period        11,116,335    20,083,457 
Exchange loss on cash and cash equivalents        (74,861)   (363,604)
Cash and cash equivalents at the end of the period       $11,641,384   $19,815,868 

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

 

Page 4

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Figures expressed in thousands of Mexican pesos (Ps$), thousands of U.S. dollars (USD$) and thousands of Colombian pesos (COP$), except for number of shares, earnings per share and exchange rates.

 

Note 1 - General information and significant events:

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. (the Company or ASUR) and its subsidiaries (collectively, the Group) operate nine airports in southeastern Mexico, the Luis Muñoz Marín International Airport in San Juan, Puerto Rico, six airports in Colombia and commercial programs at selected airport terminals in the United States. The Company’s Series B shares are listed on the Mexican Stock Exchange and its American Depositary Shares are listed on the New York Stock Exchange.

 

1.1 Sustainability and climate-related matters

 

The Group’s Sustainability Committee oversees the sustainability strategy, proposed targets, mitigation and adaptation initiatives and the sustainability report. The Group’s principal physical climate risks include extreme heat, which can increase electricity consumption for cooling systems, and hurricanes, particularly for Cancún and San Juan. Principal transition risks include higher airline operating costs that could affect passenger demand, higher electricity costs and requirements to incorporate renewable energy.

 

Management evaluated the measures and actions implemented in response to sustainability and climate-related risks and concluded that their financial effects were reflected in the estimates and judgments applied in these condensed consolidated interim financial statements. No additional material financial impact was identified at June 30, 2026.

 

1.2 Seasonality and passenger traffic

 

Passenger traffic and the Group’s results are affected by seasonal travel patterns. Results for an interim period are therefore not necessarily indicative of the results for the full year. Passenger traffic for the six-month periods ended June 30 was as follows:

 

Passengers (thousands)  Six months period ended
June 30, 2026
   Six months period ended
June 30, 2025
   Three months period ended
June 30, 2026
   Three months period ended
June 30, 2025
 
Domestic – Mexico   9,396    9,516    4,850    4,935 
Domestic – Aerostar   6,151    6,351    3,009    3,123 
Domestic – Airplan   6,754    6,252    3,302    3,173 
Total domestic passengers   22,301    22,119    11,161    11,231 
International – Mexico   11,054    11,446    4,661    5,081 
International – Aerostar   834    838    445    456 
International – Airplan   2,025    1,934    983    966 
Total international passengers   13,913    14,218    6,089    6,503 
Total passengers   36,214    36,337    17,250    17,734 

 

Note 2 - Basis of preparation and material accounting policy information:

 

These condensed consolidated interim financial statements as of June 30, 2026, December 31, 2025 and for the three and six-month periods ended June 30, 2026 and 2025 have been prepared in accordance with International Accounting Standard (IAS) 34, Interim Financial Reporting. These condensed consolidated interim financial statements prepared in accordance with International Financial Reporting Standards as issued by the IASB (”IFRS Accounting Standards”) do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2025, and any public announcements made by the Company during the interim reporting period. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of changes in the Group’s financial position and performance since the last annual consolidated financial statements.

 

The same accounting policies, presentation and methods of computation applied in the annual consolidated financial statements for 2025 have been applied in these condensed consolidated interim financial statements, except for the Income tax (see note 15) and the adoption of amended IFRS Accounting Standards effective from January 1, 2026. These financial statements have been prepared on a going concern basis and principally under the historical cost convention, except for investment properties and other items measured at fair value in accordance with the applicable IFRS Accounting Standards.

 

2.1 Use of estimates and judgments

 

The preparation of condensed consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis, and revisions are recognized in the period in which the estimates are revised and in any future periods affected. Material changes in judgments and estimates during the period are described in Notes 9, 10, 15 and 19.

 

Page 5

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries 

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

2.2 New and amended IFRS Accounting Standards effective in 2026

 

Pronouncement  Principal requirement  Effect on the Group
Amendments to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments  Clarify recognition and derecognition dates, the SPPI assessment and disclosures for instruments with contractual terms that can change cash flows.  No material impact identified
       
Annual Improvements to IFRS Accounting Standards - Volume 11  Amend IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7.  No material impact identified
       
Amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature-dependent Electricity  Amend the own-use and hedge accounting requirements and introduce targeted IFRS 7 disclosures.  No material impact identified
       
IFRS Interpretations Committee agenda decisions published through June 30, 2026  Include decisions addressing transaction costs under IFRS 9, certain IFRS 16 arrangements and fair presentation under IAS 1.  No material impact identified

 

2.3 Standards issued but not yet effective

 

IFRS 18, Presentation and Disclosure in Financial Statements, is effective for annual reporting periods beginning on or after January 1, 2027. The Group is assessing the effects on the structure of the statement of profit or loss, classification of income and expenses, required subtotals, aggregation and disaggregation and disclosures for management-defined performance measures. The Group currently reports EBITDA and adjusted EBITDA measures outside the financial statements and is evaluating whether those measures will meet the definition of management-defined performance measures. IFRS 18 will be applied retrospectively, including to the 2025 and 2026 comparative information presented in the 2027 interim and annual financial statements.

 

IFRS 19, Subsidiaries without Public Accountability: Disclosures, is also effective from January 1, 2027. The parent company is not eligible to apply IFRS 19 in its consolidated financial statements. The Group is evaluating whether eligible subsidiaries will be permitted to apply the reduced disclosure requirements in their separate financial statements. Such application would not affect the Group’s consolidated financial statements.

 

IFRS 20, Regulatory Assets and Regulatory Liabilities: In May 2026, the IASB issued IFRS 20, Regulatory Assets and Regulatory Liabilities, which establishes accounting requirements for entities subject to regulatory agreements that determine the amount an entity is entitled to charge customers for goods or services supplied and the timing of when that compensation is included in the amounts charged to customers. IFRS 20 requires an entity within its scope to recognize regulatory assets and regulatory liabilities arising from differences in timing between the recognition of compensation for goods or services supplied and the inclusion of that compensation in the amounts charged to customers. The Standard also establishes requirements for the measurement, presentation and disclosure of regulatory assets, regulatory liabilities, regulatory income and regulatory expense. IFRS 20 is effective for annual reporting periods beginning on or after January 1, 2029, with earlier application permitted, and will replace IFRS 14, Regulatory Deferral Accounts.

 

Group is currently assessing and identifying all the potential impacts that the adoption of the new standard will have on the consolidated financial statements and notes.

 

Page 6

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries 

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Note 3 - Segment information:

 

The chief operating decision maker reviews financial information for Cancún, Aerostar, Airplan, ASUR Airports, Mérida, Villahermosa, Services and Other operations. Following the acquisition of ASUR Airports LLC on December 11, 2025, ASUR Airports is presented as a separate reportable segment beginning in 2026 because its results are regularly reviewed separately by the chief operating decision maker and are material to an understanding of the Group’s commercial operations in the United States. Accordingly, there is no corresponding ASUR Airports segment information for the six-month period ended June 30, 2025, as the business was not part of the Group during that period.

 

Segment information – 2026

 

Six months ended June 30, 2026  Cancún   Aerostar   Airplan   ASUR Airports   Mérida   Villahermosa   Holding &
Services
   Other   Eliminations   Total 
Aeronautical revenue  5,346,770   1,087,696   1,325,485   -   633,464   244,739   -   1,029,478   -   9,667,632 
Non-aeronautical revenue  3,147,539   1,159,036   563,975   822,410   149,438   40,101   626,757   148,630   (626,757)  6,031,129 
Revenue for construction services  1,724,290   232,519   64,257   -   43,060   90,423   -   524,617   -   2,679,166 
Cost of aeronautical and non-aeronautical services  (2,762,199)  (1,098,430)  (802,900)  (616,086)  (287,715)  (106,983)  (32,818)  (439,432)  626,757   (5,519,806)
Cost of construction services  (1,724,290)  (232,519)  (64,257)  -   (43,060)  (90,423)  -   (524,617)  -   (2,679,166)
Operating profit  5,330,104   761,689   538,716   206,324   411,071   149,227   593,936   586,887   -   8,577,954 
Non-current assets  28,047,534   16,967,203   1,441,280   12,931,705   3,668,607   1,513,605   40,873,911   8,307,403   (42,256,225)  71,495,023 
Total Assets  36,684,485   20,128,804   3,659,871   13,794,414   4,442,890   1,845,812   41,522,385   10,158,114   (42,256,225)  89,980,550 
Total Liabilities  21,677,712   10,204,005   809,644   8,139,123   77,775   114,064   118,636   383,243   -   41,524,202 
Improvements to assets under concession and acquisition of furniture and equipment in the period  1,557,564   252,989   64,412   4,083   40,062   95,541   -   479,976   -   2,494,627 
Depreciation and amortization  (402,006)  (386,613)  (547,844)  -   (84,116)  (28,630)  (3)  (151,789)  -   (1,601,001)
Revenue recognized. At a point in time:                                        
Aeronautical revenue  4,515,197   690,846   1,323,913   -   665,933   219,464   -   937,802   -   8,353,156 
Non-aeronautical revenue  699,190   735,88   1,364,998   -   -   -   -   -   -   2,800,076 
Total  5,214,387   1,426,734   2,688,911   -   665,933   219,464   -   937,802   -   11,153,232 
Over a period of time:                                        
Aeronautical revenue  831,573   396,850   1,572   -   32,469   25,275   -   91,676   -   1,314,476 
Non-aeronautical revenue  2,448,349   423,148   801,023   822,410   149,438   40,101   626,757   148,630   626,757   3,231,053 
Revenue for construction services  1,724,290   232,519   64,257   -   43,060   90,423   -   524,617   -   2,679,166 
Total  5,004,212   1,052,517   735,194   822,410   160,029   155,799   626,757   764,923   626,757   7,224,695 

 

Page 7

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Segment information – 2025

 

Six months ended June 30, 2025  Cancún   Aerostar   Airplan   Mérida   Villahermosa   Holding &
Services
   Other   Eliminations   Total 
Aeronautical revenue  5,575,498   1,221,669   1,376,195   584,006   228,394   -   1,033,694   -   10,019,456 
Non-aeronautical revenue  3,495,966   1,225,304   516,375   147,993   42,632   612,760   157,154   (612,760)  5,585,424 
Revenue for construction services  1,295,212   229,565   6,894   49,455   18,660   -   298,241   -   1,898,027 
Cost of aeronautical and non-aeronautical services  (2,738,785)  (1,139,629)  (774,281)  (268,626)  (107,637)  (23,965)  (415,184)  612,760   (4,855,347)
Cost of construction services  (1,295,212)  (229,565)  (6,894)  (49,455)  (18,660)  -   (298,241)  -   (1,898,027)
Operating profit  5,943,551   913,927   903,212   387,587   136,452   582,232   640,316   -   9,513,834 
Non-current assets  23,530,649   18,173,163   2,711,399   3,639,121   1,313,182   43,479,951   6,945,366   (44,773,303)  55,019,528 
Total Assets  40,138,001   21,809,038   4,198,477   4,157,449   1,583,235   44,134,699   9,250,564   (44,773,303)  80,498,190 
Total Liabilities  15,435,350   11,170,057   2,046,665   53,343   82,268   9,166,246   315,728   -   38,269,657 
Improvements to assets under concession and acquisition of furniture and equipment in the period  1,313,031   249,600   6,916   55,397   18,417   -   392,389   -   2,035,750 
Depreciation and amortization  (389,128)  (393,417)  (215,077)  (75,786)  (26,937)  (6)  (135,348)  -   (1,235,699)
Recognition of revenue at a point in time.                                    
Aeronautical revenue  4,715,789   678,580   1,102,904   488,857   205,584   -   878,756   -   8,070,470 
Non-aeronautical revenue  630,477   268,590   -   -   -   -   -   -   899,067 
Total  5,346,266   947,170   1,102,904   488,857   205,584   -   878,756   -   8,969,537 
Over a period of time:                                    
Aeronautical revenue  859,710   543,089   273,291   95,149   22,810   -   154,937   -   1,948,986 
Non-aeronautical revenue  2,865,490   956,714   516,375   147,993   42,632   612,760   157,153   (612,760)  4,686,357 
Revenue for construction services  1,295,212   229,565   6,894   49,455   18,660   -   298,241   -   1,898,027 
Total  5,020,412   1,729,368   796,560   292,597   84,102   612,760   610,331   (612,760)  8,533,370 

 

Aerostar is located in Puerto Rico, Airplan is located in Colombia and ASUR Airports is located in the United States. Segment assets and liabilities are presented only because those measures are regularly provided to the chief operating decision maker and changed materially from the amounts disclosed at December 31, 2025.

 

Page 8

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

3.1 Significant non-controlling interests

 

The Group holds a 60% interest in Aerostar. The summarized financial information of Aerostar, before intercompany eliminations, was as follows:

 

Aerostar - summarized financial position  June 30, 2026   December 31, 2025 
Cash and cash equivalents   663,136    323,859 
Restricted cash and cash equivalents   1,936,820    2,041,027 
Other current assets   454,830    395,851 
Total current assets   3,054,786    2,760,737 
Other current liabilities   (1,080,960)   (1,211,118)
Working capital   1,973,826    1,549,619 
Property and equipment - Net   226,853    230,356 
Intangible assets - Net   11,896,865    12,290,973 
Other non-current assets   123,257    71,379 
Long-term debt   (8,084,526)   (8,464,370)
Other non-current liabilities   (12,535)   (13,375)
Deferred income taxes - Net   (601,180)   (568,899)
Net assets   5,522,560    5,095,683 

 

Aerostar - summarized results  Six month June 30,
2026
  

Six month June 30,
2025

   Three month June
30, 2026
   Three month June
30, 2025
 
Revenue   2,479,250    2,676,538    1,220,259    1,354,837 
Operating costs and expenses   (1,637,912)   (1,676,742)   (834,910)   (852,656)
Comprehensive financing result - Net   (213,653)   (245,248)   (105,537)   (118,109)
Income tax   (49,194)   (57,758)   (22,982)   (35,304)
Net income   578,491    696,790    256,830    348,768 
Foreign currency translation effect   (151,612)   (563,432)   (159,747)   (470,988)
Total comprehensive income   426,879    133,358    97,083    (122,220)

 

Note 4 - Revenue from contracts with customers and lease income:

 

   For the six – month periods ended   For the three – month periods ended 
Revenue category  June 30, 2026   June 30, 2025   June 30, 2026   June 30, 2025 
Passenger charges   7,601,998    7,811,967    3,667,801    3,771,606 
Landing fees   754,536    817,318    347,283    374,766 
Apron services   488,928    501,240    216,008    225,126 
Security services   94,003    94,679    43,575    44,575 
Baggage inspection   306,918    314,639    142,686    149,431 
Passenger walkways   337,474    399,137    143,372    212,516 
Temporary counters   17,879    17,556    8,359    8,399 
Other airport services   270,356    289,347    131,826    136,703 
Total regulated services   9,872,092    10,245,883    4,700,910    4,923,122 
Retail sales   886,644    899,067    400,080    424,080 
Non-permanent ground transportation access   55,754    54,148    25,821    26,173 
Car parking   277,437    291,434    144,774    144,880 
Other services   210,644    163,871    33,704    72,968 
Non-regulated revenue from contracts with customers   1,430,479    1,408,520    604,415    668,101 
Commercial lease and sublease income   4,396,190    3,950,477    2,102,493    1,849,699 
Total non-regulated services   5,826,669    5,358,997    2,706,908    2,508,800 
Construction services   2,679,166    1,898,027    2,171,182    1,283,510 
Total revenue   18,377,927    17,502,907    9,578,964    8,715,432 

 

Regulated revenue by country was Ps$7,458,911 in Mexico, Ps$1,087,696 in Aerostar and Ps$1,325,485 in Airplan for the six-month period ended June 30, 2026 (2025: Ps$7,648,019, Ps$1,221,669 and Ps$1,376,195, respectively).

 

Page 9

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Regulated revenue by country was Ps$3,537,383 in Mexico, Ps$521,327 in Aerostar and Ps$642,200 in Airplan for the three-month period ended June 30, 2026 (2025: Ps$3,648,716, Ps$619,385 and Ps$655,021, respectively).

 

Commercial lease and sublease income by activity

 

   For the six – month periods ended     
Commercial activity 

Six month

June 30, 2026

   Six month June 30, 2025   Three month June 30, 2026   Three month June 30, 2025 
Duty free stores   1,406,920    1,520,489    647,255    710,597 
Food and beverages   1,196,854    822,451    585,861    385,254 
Advertising   109,879    101,760    54,391    49,956 
Car rental   718,585    851,365    326,469    387,583 
Banks and currency exchange services   40,330    55,332    18,174    22,944 
Teleservices   12,327    13,661    6,483    5,158 
Ground transportation   98,899    97,229    45,706    45,831 
Other services   812,396    488,190    418,154    242,376 
Total commercial lease and sublease income   4,396,190    3,950,477    2,102,493    1,849,699 

 

Construction service revenue by geography

 

Geography 

Six month
June 30,
2026

   Six month June 30,
2025
   Three month June 30,
2026
  

Three month June 30,
2025

 
Mexico   2,382,390    1,661,568    1,990,598    1,138,916 
Aerostar   232,519    229,565    118,092    140,791 
Airplan   64,257    6,894    62,492    3,803 
Total construction services   2,679,166    1,898,027    2,171,182    1,283,510 

 

At December 31, 2025, undiscounted future fixed minimum lease income under non-cancellable commercial arrangements was as follows. The total included Ps$6,509,541 related to ASUR Airports LLC:

 

Year  Minimum lease income 
2026   2,729,225 
2027   4,459,063 
2028   3,403,997 
2029   1,415,386 
2030   1,006,852 
2031 to 2034   2,149,383 
Total   15,163,906 

 

Page 10

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries 

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Note 5 - Costs and expenses by nature:

 

   For the six – month periods ended   For the three – month periods ended 
Cost or expense  June 30, 2026   June 30, 2025   June 30, 2026,   June 30, 2025, 
Short-term employee benefits   1,167,741    1,049,948    595,209    544,801 
Electricity   271,647    284,102    147,236    145,685 
Maintenance and conservation   434,272    431,697    243,621    222,932 
Professional fees   280,440    193,198    98,458    101,850 
Insurance and surety bonds   150,114    164,598    72,860    79,297 
Security services   342,613    309,126    171,535    157,602 
Cleaning services   233,875    222,973    91,929    114,085 
Technical assistance fees   198,604    213,436    89,754    98,507 
Concession fees and Airport Use Right (DUAC)   1,378,135    1,487,100    641,138    699,285 
Depreciation and amortization   1,601,001    1,235,699    814,564    610,912 
Commercial goods consumed   296,007    297,958    134,675    139,176 
Construction services   2,679,166    1,898,027    2,171,182    1,283,510 
Employee profit sharing   61,070    65,780    33,507    38,668 
Termination benefits   8,991    4,549    4,735    2,512 
Expected credit loss allowance   50,771    6,663    44,493    - 
Other   645,526    124,219    333,990    62,602 
Total operating costs and expenses   9,799,973    7,989,073    5,688,886    4,301,424 

 

Concession fees and DUAC for the six-month period ended June 30, 2026 consisted of Ps$906,700 in Mexico, Ps$360,849 in Airplan and Ps$110,586 in Aerostar (2025: Ps$1,007,715, Ps$360,724 and Ps$118,661, respectively).

 

Concession fees and DUAC for the three-month period ended June 30, 2026 consisted of Ps$409,030 in Mexico, Ps$177,052 in Airplan and Ps$55,055 in Aerostar (2025: Ps$470,155, Ps$171,456 and Ps$57,674, respectively).

 

The increase in other costs primarily reflects the consolidation of ASUR Airport, effective December 10, 2025. The increase for the period from January to June 2026 primarily includes lease costs of Ps$456,160, as well as other minor variable lease contracts (ORD and JFK T1). On a consolidated basis, the provision for expected credit losses amounts to Ps$45,615.

 

Note 6 - Cash equivalents and restricted cash:

 

Concept  June 30, 2026   December 31, 2025 
Cash at banks and on hand   4,748,176    4,258,090 
Short-term investments   6,893,208    6,858,245 
Cash and cash equivalents   11,641,384    11,116,335 
Debt service and operating reserves - Aerostar   1,265,755    1,293,363 
Passenger Facility Charges restricted for approved projects   671,065    747,664 
Restricted cash and cash equivalents   1,936,820    2,041,027 

 

Note 7 - Financial assets and other current assets:

 

7.1 Accounts receivable

 

Concept  June 30, 2026   December 31, 2025 
Gross trade receivables   2,988,920    2,888,148 
Expected credit loss allowance   (346,659)   (325,839)
Accounts receivable – Net   2,642,261    2,562,309 

 

Page 11

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Movement in expected credit loss allowance

 

Movement  Amount 
As of December 31, 2025   325,839 
Increase – Mexico   12,660 
Increase – Aerostar   32,019 
Application – Aerostar   (5,156)
Foreign currency translation – Aerostar   (442)
Write-off – Airplan   (32,671)
Foreign currency translation – Airplan   8,318 
Increase - ASUR Airports   6,092 
As of June 30, 2026   346,659 

 

No material impairment in the overall credit risk profile was identified during the period, except for specific customer matters reflected in the expected credit loss allowance above.

 

7.2 Other current assets

 

Concept  June 30, 2026   December 31, 2025 
Document receivable   100,696    100,696 
Income taxes recoverable   1,097,880    1,112,994 
Value-added tax, inventory and other current assets   1,066,486    944,426 
Document receivable and Recoverable taxes and other current assets   2,265,062    2,158,116 

 

Page 12

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Note 8 - Land, furniture and equipment - Net:

 

Class  January 1, 2026   Foreign currency
Translation
   Additions / disposals   June 30, 2026 
Land   195    16    -    211 
Furniture and equipment   182,764    (95)   16,396    199,065 
Machinery and equipment   204,123    (6,245)   20,162    218,040 
Computer equipment   201,782    (6,311)   33,696    229,167 
Transportation equipment   60,978    (2,532)   33,121    91,567 
Leasehold improvements   193,882    (5,221)   (37,709)   150,952 
Accumulated depreciation   (540,656)   13,603    (51,825)   (578,878)
Total   303,068    (6,785)   13,841    310,124 

 

Depreciation expense on land, furniture and equipment was Ps$51,825 for the six-month period ended June 30, 2026 (2025: Ps$44,921). Depreciation of right-of-use assets included in this note was Ps$3,669 (2025: Ps$3,526). Total capital expenditures, including concession assets and investment properties, are disclosed in Note 3.

 

Depreciation expense on land, furniture and equipment was Ps$26,477 for the three-month period ended June 30, 2026 (2025: Ps$22,623). Depreciation of right-of-use assets included in this note was Ps$1,862 (2025: Ps$1,799). Total capital expenditures, including concession assets and investment properties, are disclosed in Note 3.

 

Note 9 - Investment properties - Net:

 

Investment properties comprise rights and improvements related to commercial premises operated by ASUR Airports at LAX, ORD and JFK. Right-of-use assets that meet the definition of investment property are presented in this line item and measured subsequently at fair value in accordance with IAS 40. Changes in fair value are recognized in profit or loss. The fair value measurement is classified within Level 3 of the fair value hierarchy.

 

Component  December 31, 2025   Foreign currency
Translation
   Net additions /
reclassifications
   June 30, 2026 
Leasehold improvements   843,878    (24,935)   218,209    1,037,152 
Construction in progress   993,967    (29,369)   (195,761)   768,837 
Fair value adjustment component   2,824,479    (83,457)   -    2,741,022 
Subtotal - improvements and fair value   4,662,324    (137,761)   22,448    4,547,011 
Right-of-use assets classified as investment property   8,096,625    (239,240)   (217,161)   7,640,224 
Total investment properties   12,758,949    (377,001)   (194,713)   12,187,235 

 

Fair value is determined principally by using discounted cash flow techniques based on contractual rental income, expected occupancy, operating costs, capital expenditures, terminal values and market participant discount rates. Independent external valuation specialists support management’s valuation. The principal unobservable inputs at the latest valuation date were as follows:

 

Property  Discount rate   Investment horizon (years) 
LAX   8.75%   12.7 
ORD   8.75%   13.7 
JFK T1   11.75%   13.11 
JFK T8   9.00%   11.1 

 

Based on the December 31, 2025 valuation, a one percentage point increase in the discount rates would have decreased the fair value by approximately Ps$781,638, while a one percentage point decrease would have increased the fair value by approximately Ps$646,182. The sensitivity is presented to illustrate the effect of a reasonably possible change and should be updated for the June 30, 2026 valuation if the underlying cash-flow projections or valuation assumptions changed materially.

 

Note 10 - Intangible assets, airport concessions and goodwill - Net:

 

Class  January 1, 2026   Foreign currency Translation   Additions / amortization   Transfers   June 30, 2026 
Airport concessions – regulated   64,480,425    (132,925)   21,331    1,215,065    65,583,896 
Contract assets   7,444,549    (30,062)   2,676,212    (1,215,065)   8,875,634 
Advances to contractors   1,446,401    13,177    (108,551)   -    1,351,027 
Licenses and direct commercial operations   599,311    -    42,308    -    641,619 
Commercial rights - non-regulated   5,868,367    (173,399)   -    -    5,694,968 
Goodwill   2,944,756    (67,056)   71,933    -    2,949,633 
Accumulated amortization   (24,760,860)   (70,736)   (1,549,176)   -    (26,380,772)
Total   58,022,949    (461,001)   1,154,057    -    58,716,005 

 

Page 13

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Amortization expense was Ps$1,549,176 for the six-month period ended June 30, 2026 (2025: Ps$1,190,778). The expense included Ps$623,041 related to Mexican concessions, Ps$342,819 related to Aerostar, Ps$547,536 related to Airplan and Ps$35,780 related to licenses and direct commercial operations.

 

Amortization expense was Ps$788,087 for the three-month period ended June 30, 2026 (2025: Ps$588,289). The expense included Ps$402,251 related to Mexican concessions, Ps$154,722 related to Aerostar, Ps$215,374 related to Airplan and Ps$15,740 related to licenses and direct commercial operations.

 

As a result of a change in estimate made in 2025, the regulated component of the Airplan concession is amortized over the period through 2027, based on the expected regulated revenue pattern, while the non-regulated component is amortized on a straight-line basis through 2032. Management reassessed this estimate at June 30, 2026 and confirmed the following change Ps.332,767.

 

Goodwill by cash-generating unit

 

Cash-generating units  June 30, 2026   December 31, 2025 
Aerostar   834,578    859,989 
Airplan   1,370,585    1,412,229 
ASUR Airports   744,470    672,538 
Total goodwill   2,949,633    2,944,756 

 

Management reviewed indicators of impairment for goodwill and indefinite-lived assets at June 30, 2026. No impairment indicators were identified.

 

Note 11 - Lease liabilities:

 

Concept  June 30, 2026   December 31, 2025 
Current lease liabilities   1,269,421    1,394,981 
Non-current lease liabilities   6,404,691    6,720,103 
Total lease liabilities   7,674,112    8,115,084 
Depreciation   3,669    7,146 
Interest Expense   238,812    39,031 

 

Current lease liabilities principally comprise approximately Ps$1,235,540 related to commercial spaces subleased to third parties and Ps$33,878 related to vehicles and other leases. Non-current lease liabilities relate primarily to U.S. airport commercial arrangements was Ps$6,404,691. Interest expense on lease liabilities was approximately Ps$238,812 for the six-month period ended June 30, 2026.

 

Depreciation expense on right-of-use assets for the three-month period ended June 30, 2026 was Ps$1,862, and interest expense on lease liabilities was approximately Ps$118,294 for the three-month period ended June 30, 2026.

 

Depreciation expense on right-of-use assets for the three-month and six-month period ended June 30, 2025 was Ps$1,530 and Ps.$3,064 respectively, and interest expense on lease liabilities was approximately Ps$1,660 and Ps.$3,250 for the three-month and six-month period ended June 30, 2025, respectively.

 

The LAX and JFK T8 arrangements include fixed or in-substance fixed payments and are measured as lease liabilities. Certain ORD and JFK T1 arrangements contain variable payments linked to passenger volumes and do not result in recognized lease liabilities to the extent that the payments are not fixed or in-substance fixed. These rents are presented in the Note 5 as a rental costs. Right-of-use assets held to earn rentals are presented as investment properties in Note 9.

 

Reconciliation of liabilities arising from financing activities

 

Movement    
Opening balance   8,115,084 
Interest accrued   238,812 
Interest paid   (233,837)
Principal payments   (456,160)
Foreign currency translation   10,213 
Closing balance   7,674,112 

 

Page 14

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries 

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Note 12 - Trade accounts payable, accrued expenses and other payables:

 

Concept  June 30, 2026   December 31, 2025 
Trade accounts payable   614,529    624,413 
Taxes payable   626,622    535,837 
Concession asset obligations   416,277    506,881 
Related-party payable   89,754    98,507 
Salaries and employee-related accruals   281,909    288,670 
Other creditors for services   1,484,440    1,375,147 
Contractor payables   29,863    29,250 
Total trade accounts payable, accrued expenses and other payables   3,543,394    3,458,705 

 

Note 13 - Bank loans and long-term debt:

 

Debt category  June 30, 2026   December 31, 2025 
Bank loans – current   15,867,018    220,356 
Bank loans - non-current   2,423,441    18,396,343 
Aerostar debt – current   404,718    405,494 
Aerostar debt - non-current   8,084,526    8,464,370 
Total interest-bearing debt   26,779,703    27,486,563 

 

Page 15

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Principal debt instruments

 

The composition of debt instruments as of June 30, 2026, is shown below:

 

Instrument  Carrying amount   Interest rate  Maturity 
Santander - Mexico   675,599   TIIEF + 1.50%   September 2027 
BBVA - Mexico   1,747,842   TIIE 28-day + 1.35%   July 2029 
BBVA - Mexico   9,516,008   TIIEF 28-day + 1.25%   May 2027 
JPMorgan - Mexico   6,351,010   TIIEF 28-day + 0.75%   June 2027 
Aerostar senior secured debt   8,489,244   4.92% to 6.75%   March 2035 
Total   26,779,703         

 

The composition of debt instruments as of December 31, 2025, is shown below:

 

Instrument  Carrying amount   Interest rate  Maturity 
Santander - Mexico   675,820   TIIEF + 1.50%   September 2027 
BBVA - Mexico   1,747,513   TIIE 28-day + 1.35%   July 2029 
BBVA - Mexico   9,513,558   TIIEF 28-day + 1.25%   May 2027 
JPMorgan - Mexico   6,262,780   TIIEF 28-day + 0.75%   June 2027 
Aerostar senior secured debt   8,869,864   4.92% to 6.75%   March 2035 
Airplan Syndicated Loan   417,028   Rediscount Rate + 1.5%/ DTF plus 4%   June 2027 
Total   27,486,563         

 

On April 22, 2026, Airplan prepaid its remaining syndicated bank loan balance of Ps$323,875 without penalty. At June 30, 2026, the Group had no bank debt in Colombia. The Mexican loan balances above include accrued interest and unamortized transaction costs. The Group recognized financing transaction costs using the effective interest method.

 

The Group complied with its financial covenants at June 30, 2026. The net leverage ratio for the relevant Mexican facilities was approximately 1.7 times compared with a maximum of 3.5 times, and interest coverage ratios ranged from approximately 7.9 to 11.1 times compared with the applicable minimum requirements. Aerostar’s debt service coverage ratio was approximately 1.9 times compared with its minimum requirement.

 

Aerostar maintained undrawn revolving facilities of USD$20 million maturing in December 2026 and USD$10 million maturing in December 2027. In connection with the contemplated Motiva Airports transaction, the Group paid a financing structuring fee of Ps$119,029. At June 30, 2026, the related USD$936 million facility had not been formally drawn.

 

Note 14 - Stockholders' equity, dividends and earnings per share:

 

Class of shares  Shares issued
and outstanding
   Capital stock 
Series B shares   277,050,000    7,173,079 
Series BB shares   22,950,000    594,197 
Total   300,000,000    7,767,276 

 

On April 23, 2026, the shareholders approved an ordinary cash dividend of Ps$3,000,000, equivalent to Ps$10.00 per share, which was paid on May 28, 2026. At the Ordinary General Meeting held on April 23, 2025, the Company's shareholders approved the payment of an ordinary cash dividend of $15,000,000, sourced from unappropriated earnings and the share repurchase reserve account; this dividend was paid on May 29, 2025. They also approved the payment of extraordinary dividends of $4,500,000 and a nominal $4,500,000, sourced from the share repurchase reserve account and they were paid on September 30, 2025, and November 27, 2025, respectively. As of June 30, 2025, approved but unpaid dividends were recognized as short-term liabilities.

 

Earnings per share

 

Concept  For the six– month periods ended, 2026   For the six– month periods ended, 2025 
Net income attributable to the controlling interest   5,109,610    5,660,598 
Weighted-average shares outstanding   300,000,000    300,000,000 
Basic and diluted earnings per share (Mexican pesos)   17.0320    18.8687 

 

Concept  For the three– month periods ended, 2026   For the three– month periods ended, 2025 
Net income attributable to the controlling interest   2,295,051    2,144,814 
Weighted-average shares outstanding   300,000,000    300,000,000 
Basic and diluted earnings per share (Mexican pesos)   7.655    7.149 

 

Page 16

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

There were no potentially dilutive ordinary shares during the periods presented; therefore, basic and diluted earnings per share were the same.

 

Note 15 - Income taxes:

 

Income tax expense for the interim period is recognized based on management’s best estimate of the weighted-average annual effective income tax rate expected for the full financial year, applied to the pre-tax income of the interim period. In addition, there were no enacted or substantially enacted tax rates to recognize the remeasurement of deferred tax balances in the interim periods. The estimated annual effective income tax rate reflects the expected mix of taxable income and applicable tax rates in the jurisdictions in which the Group operates, as well as the expected effect of permanent differences, tax incentives and other items affecting the annual effective tax rate. The estimated annual effective income tax rate is reassessed at each interim reporting date based on changes in facts and circumstances and updated expectations for the full financial year.

 

As of June 30, 2026, the Company operates in Mexico, Colombia, Puerto Rico, and the United States and continues to monitor developments related to the implementation of Pillar Two legislation in these jurisdictions. Based on its assessment, the Company has determined that the Pillar Two rules do not have a material effect on the Company's unaudited condensed consolidated financial position, unaudited condensed consolidated results of operations, or unaudited condensed consolidated cash flows as of and for the six-month period ended June 30, 2026.

 

Note 16 - Related-party transactions:

 

Balance  2026 / June 30, 2026   2025 / December 31,
2025
 
Payable to Inversiones y Técnicas Aeroportuarias, S. A. P. I. de C. V.   (89,754)   (98,507)

 

Transaction  2026 / June 30, 2026   2025 / December 31,
2025
 
Technical assistance fees to Inversiones y Técnicas Aeroportuarias, S. A. P. I. de C. V.   (198,604)   (400,912)
Lease expense to Cancun Airport Services, S. A. de C. V.   (3,108)   (6,717)
Commercial revenue - Autobuses de Oriente, S. A. de C. V.   9,483    18,998 
Commercial revenue - Autobuses Golfo Pacífico, S. A. de C. V.   5,468    10,249 
Commercial revenue - Coordinados de México de Oriente, S. A. de C. V.   2    6 

 

The technical assistance agreement with ITA provides for a fee based on 2.5% of a defined consolidated earnings measure, subject to a minimum amount of USD$2 million adjusted for inflation, plus applicable value-added tax. Related-party transactions were conducted under the contractual terms agreed by the parties.

 

For the six-month period ended June 30, 2026, compensation of key management personnel was Ps$126,962 and emoluments to the Board of Directors and committees were Ps$9,293. For the year ended December 31, 2025, short-term compensation of key management personnel was Ps$191,020 and emoluments to the Board of Directors and committees were Ps$12,068.

 

Management determined that compensation of key management personnel for the six-month periods ended June 30, 2026 and 2025 as a follow:

 

Transaction  June 30, 2026   December 31, 2025 
Short term salaries and other benefits paid to key personal   126,962    191,020 
Fees paid to the Board of Directors and Committees   9,293    12,068 

 

Furthermore, there were no material changes in the relevant compensation arrangements or any new material related-party arrangements during the period.

 

Note 17 - Commitments and contingencies:

 

17.1 Capital and lease commitments

 

Commitment  Amount  Timing / status
Mexico Master Development Program - 2026  6,056,100  Commitments determined at June 30, 2026
Mexico Master Development Program - 2027  5,905,100  Commitments determined at June 30, 2026
Mexico Master Development Program - 2028  7,656,900  Commitments determined at June 30, 2026
Future lease payments - Mexico, through two years  20,332  Contractual commitments
Future lease payments - ASUR Airports, through two years  2,271,260  Contractual commitments
JFK T8 development and concession improvements  2,652,250  Commitments determined at June 30, 2026
JFK T1 and other JFK T8 commitments  5,668,839  Commitments determined at June 30, 2026
LAX development commitment  4,261,624  Commitments determined at June 30, 2026

 

Page 17

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

17.2 Proposed acquisition of Companhia de Participações em Concessões

 

On January 26, 2026, the shareholders authorized the potential acquisition of an equity interest in Companhia de Participações em Concessões ("CPC"), which has interests in airport concessions in Brazil, Ecuador, Costa Rica and Curaçao. The contemplated transaction was expected to be financed principally through debt. As of June 30, 2026, the transaction remained subject to the satisfaction of customary closing conditions and required approvals. Accordingly, no acquisition accounting has been recognized in these condensed consolidated interim financial statements. Subsequent developments are described in Note 21.

 

Page 18

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

17.3 Litigation and other contingencies

 

Matter  Exposure  Status
Employee profit-sharing and tax matter  99,800  Remote - no provision recognized
Competition authority proceeding  73,000  Risk assessed as remote at the latest evaluation

 

Management and legal counsel evaluate claims and proceedings at each reporting date. Provisions are recognized when a present obligation exists, an outflow of resources is probable and the amount can be estimated reliably. Contingent liabilities are disclosed unless the possibility of an outflow is remote.

 

Note 18 - Financial instruments and financial risk management:

 

18.1 Foreign currency risk

 

USD-denominated position (thousands of U.S. dollars)  June 30, 2026   December 31, 2025 
Monetary assets   443,341    413,507 
Monetary liabilities   (8,751)   (7,496)
Net monetary asset position   434,590    406,011 

 

The Group is exposed to foreign currency risk primarily from its investments and operations in Puerto Rico, the United States and Colombia. Foreign currency translation effects are recognized in other comprehensive income, while exchange differences on monetary items are recognized in profit or loss, except when another IFRS Accounting Standard requires a different treatment.

 

18.2 Liquidity risk

 

Region  Cash and equivalents   Interest-bearing debt   Current lease liabilities   Non-current lease liabilities 
Mexico   8,733,048    18,290,459    33,881    - 
Aerostar   663,136    8,489,244    -    - 
Airplan   1,784,804    -    -    - 
ASUR Airports   460,396    -    1,235,540    6,404,691 
Total   11,641,384    26,779,703    1,269,421    6,404,691 

 

Concept  June 30, 2026   December 31, 2025 
Current assets   18,485,527    17,877,787 
Current liabilities   (21,334,940)   (5,903,180)
Net current liquidity position   (2,849,413)   11,974,607 

 

The following table presents the analysis of the net financial liabilities of the Company based on the period between the date of the statement of consolidated financial position and the maturity date, including undiscounted contractual cash flows

 

At December 31, 2025  Under 3
months
   Between 3 months
and one year
   Between 1 and 2 years   Between 2 and 5 years 
Bank loans and interest   371,975    1,121,984    17,497,589    2,037,150 
Long term debt   373,370    380,934    767,626    2,281,367 
Suppliers   624,413                
Accounts payable and accrued expenses   1,502,904                
Lease liabilities   351,412    1,054,236    865,612    2,596,836 

 

At June 30, 2026  Under 3
months
   Between 3 months
 and one year
   Between 1 and 2 years   Between 2 and 5 years 
Bank loans and interest   373,557    17,103,933    847,355    1,957,687 
Long term debt   369,678    368,017    752,009    2,227,557 
Suppliers   614,529                
Accounts payable and accrued expenses   1,604,057                
Lease liabilities   341,028    1,023,085    840,035    2,520,105 

 

Page 19

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

As of June 30, 2026 and 2025, the amount of undiscounted contractual cash flows associated with maturities greater than 5 years of long-term debt including interest amounts to Ps.10,650,000 and Ps.8,846,000, respectively.

 

As of June 30, 2026 and 2025, the amount of undiscounted contractual cash flows associated with lease liabilities maturing in more than 5 years amounts to Ps.6,411,913 and Ps.6,492,092.

 

Management monitors forecast and actual cash flows, debt maturities, covenant headroom and available committed facilities. Based on current forecasts, management expects the Group to meet its financial obligations as they fall due for at least twelve months from the authorization date.

 

At June 30, 2026, the Group held cash and cash equivalents of Ps.11,641,384, comprising Ps.4,748,176 of cash at banks and on hand and Ps.6,893,208 of short-term investments. These amounts represent the Group’s principal financial assets available to meet short-term liquidity requirements. See Note 6.

 

In addition, Aerostar maintained undrawn committed revolving credit facilities of USD$20 million maturing in December 2026 and USD$10 million maturing in December 2027. See Note 13. The availability of these facilities is subject to compliance with their applicable contractual terms and financial covenants. At June 30, 2026, the Group was in compliance with its financial covenants.

 

18.3 Credit risk

 

Credit risk arises principally from passenger charges and other amounts receivable from airlines and commercial counterparties. The Group performs ongoing credit evaluations and recognizes expected credit losses as described in Note 7. Cash and short-term investments are placed with financial institutions that management considers to have adequate credit quality.

 

18.4 Fair value measurements

 

The carrying amounts of cash and cash equivalents, trade receivables, trade accounts payable and other short-term financial instruments approximate their fair values because of their short maturities. Bank loans and Short- and Long-Term debt are measured at amortized cost; their fair values are determined using market interest rates and are classified within Level 2 of the fair value hierarchy. Investment properties are measured at fair value within Level 3, as described in Note 9.

 

As of June 30, 2026, the fair value of financial assets and liabilities is similar to their carrying amounts.

 

Page 20

 

 

Grupo Aeroportuario del Sureste, S. A. B. de C. V. and subsidiaries 

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

June 30, 2026 and December 31, 2025

 

Note 19 - Critical accounting judgments and key sources of estimation uncertainty:

 

The judgments and estimates that have the most significant effect on the amounts recognized in these condensed consolidated interim financial statements are consistent with those described in the 2025 annual financial statements, except for updates resulting from current-period facts and circumstances. The principal areas are summarized below.

 

Area  Key judgment or estimate
Revenue recognition and maximum tariff compliance  Determining the timing of satisfaction of performance obligations, estimating discounts and monitoring regulated revenue against maximum tariffs.
    
Useful life and amortization pattern of the Airplan concession  Estimating the expected pattern of regulated and non-regulated revenue through the concession periods.
    
Impairment of concessions, commercial rights and goodwill  Forecast passenger traffic, revenue growth, operating margins, discount rates, terminal values and concession terms.
    
Fair value of investment properties  Projected rents, occupancy, capital expenditures, operating costs, discount rates and investment horizons.
    
ASUR Airports purchase price allocation  Identifying acquired assets and liabilities and measuring investment properties, lease liabilities, non-controlling interests, deferred taxes and goodwill.
    
Interim income taxes  Estimating the weighted-average annual effective tax rate and recognizing discrete items and recoverability of deferred tax assets.

 

Note 20 - Reconciliation of liabilities arising from financing activities:

 

Movement  Aerostar debt   Bank loans 
Opening balance   8,869,864    18,616,699 
Interest accrued   239,868    965,751 
Interest paid   (244,086)   (856,763)
Principal payments   (129,328)   (323,875)
Foreign currency translation   (247,074)   (111,353)
Closing balance   8,489,244    18,290,459 

 

The reconciliation includes accrued interest and unamortized transaction costs. Lease liability movements are disclosed in Note 11 and should be added to this reconciliation if management concludes that a combined financing-liability reconciliation provides more useful information.

 

Note 21 - Events after the reporting period:

 

a)On August 20, 2026, the Company’s shareholders approved a corporate reorganization to integrate into ASUR the technical assistance and technology transfer services currently provided by Inversiones y Técnicas Aeroportuarias, S.A.P.I. de C.V. (“ITA”). The transaction involves entities under common control and is expected to result in the issuance of approximately 7.2 million net new shares of ASUR’s capital stock. The Company does not expect the transaction to have a significant impact on its consolidated financial statements.

 

b)Management evaluated events occurring after June 30, 2026 through authorization date. As described in Note 17.2, on January 26, 2026, the shareholders authorized the potential acquisition of an equity interest in Companhia de Participações em Concessões ("CPC"), which has interests in airport concessions in Brazil, Ecuador, Costa Rica and Curaçao. Subsequent to June 30, 2026, and prior to the authorization date of these condensed consolidated interim financial statements, the Group completed the acquisition of Motiva Infraestrutura de Mobilidade S.A.'s entire equity interest in CPC on September 1, 2026, following the satisfaction of all conditions precedent under the related purchase agreement. The purchase price amounted to approximately R$5.1 billion (US$992.2 million), subject to customary closing adjustments, and was financed through a loan facility arranged in connection with the acquisition. As a result of the transaction, the Group expanded its airport portfolio through interests in airports located in Brazil, Ecuador, Costa Rica and Curaçao.

 

As of the authorization date of these condensed consolidated interim financial statements, the determination of the fair values of the identifiable assets acquired and liabilities assumed, as well as the related purchase price allocation, had not been finalized. Accordingly, the accounting for the acquisition remains preliminary and will be completed in accordance with IFRS 3, Business Combinations, during the applicable measurement period. Because the acquisition was completed after June 30, 2026, no amounts related to the acquired business have been recognized in these condensed consolidated interim financial statements.

 

Except for the matter described above, management identified no events after the reporting period that required adjustment to, or material disclosure in, these condensed consolidated interim financial statements.

 

Note 22 - Authorization of the financial statements:

 

These unaudited condensed consolidated interim financial statements and the accompanying notes were authorized and proposed for issuance to the Board of Directors by Lic. Adolfo Castro Rivas, Chief Executive Officer of Grupo Aeroportuario del Sureste, S. A. B. de C. V.

 

Page 21